Story: written by Myra October 31,2025
Nigeria’s refining industry is set for a major boost following President Bola Tinubu’s approval of a 15 percent import duty on petrol and diesel.

The new policy is aimed at protecting local refiners and reducing the country’s heavy reliance on imported fuel. For years, imported petrol and diesel have entered the market duty-free, creating an uneven playing field that discouraged local production.

With this decision, the federal government hopes to encourage domestic refining, support operators like the Dangote Refinery and other modular plants, and stimulate job creation across the oil value chain.

Analysts say the tariff will make imported fuel more expensive, giving locally refined products a competitive edge in the market. The move is also expected to cut foreign exchange pressure, reduce fuel import bills, and increase government revenue through customs collections.

“This is a bold step that will strengthen local refining capacity and enhance energy security,” said an industry expert. “It’s a signal that Nigeria is serious about refining its own fuel rather than importing everything.”

The policy takes effect immediately, marking a significant shift in Nigeria’s downstream oil strategy toward self-sufficiency and industrial growth.